Telstra-owned software provider Ooyala has appointed Patricio Cummins to the role of vice president for Asia Pacific and Japan.
Cummins, who will be based in Sydney, replaces Steve Davis who held the role for almost two years and has been appointed as the chief revenue officer, responsible for Ooyala’s global sales and marketing operations.
“The Asia Pacific and Japan region has always piqued my interest with its vibrant media landscape, diversity and high mobile viewership,” Cummins said.
“I am excited and look forward to working closely with new and current customers to optimise their video production and delivery capabilities and help address the changing needs of the media industry in this region.”
Cummins was previously Ooyala regional vice president for Latin America. He more than 20 years of experience in the broadcast, media and communications industry, in both business and professional services roles.
“Patricio’s rich experience in the industry will help broadcasters and media companies in the Asia-Pacific and Japan region address the dynamic content supply chain landscape today,” Ooyala CEO Jonathan Huberman said.
US-based Ooyala offers a software that optimises the production, distribution and monetisation of video.
Telstra (ASX:TLS) acquired nine per cent of Ooyala in 2012. In 2014, Australia’s largest telco invested US$270 million in the company, boosting its stake from 23 per cent to 98 per cent of the business.
In February, Telstra said it identified challenges in the Ooyala business and changing market dynamics 18 months before and impaired the business at the time of its 2016 results.
Telstra told shareholders that, following completion of its impairment testing process for the half year ended 31 December 2017, it was expecting to “recognise an impairment charge of A$273 million against goodwill and other non-current assets in its results for that period to write the company value down to zero”.
This estimate was subject to audit and risk committee and board review and approval.
At the time, Telstra group executive technology, innovation and strategy Stephen Elop said there are three key parts of the Ooyala business -- ad tech, OVP (video player) and a workflow management system (Flex media logistics).
“Ad tech, has not performed well and we will therefore seek ways to exit that part of the business,” he said.
Although the subsidiary's ad tech business is likely to be discontinued, Elop said that Telstra sees a future in the other core parts of the Ooyala business, including the business's video player and the workflow management system.